REGISTERED NUMBER: SC349588 (Scotland)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

MAGBIEHILL PROPERTIES LIMITED

PREVIOUSLY KNOWN AS

BLACKWOOD DECORATIVE AGGREGATES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

T Blackwood

REGISTERED OFFICE:

Magbiehill Park

Dunlop Road

Stewarton

KA3 3ES

REGISTERED NUMBER:

SC349588 (Scotland)

ACCOUNTANTS:

Gilmour Hamilton LLP

Chartered Accountants

37 Portland Road

KILMARNOCK

Ayrshire

KA1 2DJ

FIXED ASSETS

Tangible assets

4

1,685,929

1,442,792

Investment property

5

7,592,082

7,500,932

9,278,011

8,943,724

CURRENT ASSETS

Stocks

344,550

569,987

Debtors

6

576,816

82,690

Cash at bank

32,153

3,573

953,519

656,250

CREDITORS

Amounts falling due within one year

7

7,626,406

7,717,650

NET CURRENT LIABILITIES

(6,672,887

)

(7,061,400

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,605,124

1,882,324

CREDITORS

Amounts falling due after more than one year

8

534,495

645,076

NET ASSETS

2,070,629

1,237,248

CAPITAL AND RESERVES

Called up share capital

4

4

Retained earnings

2,070,625

1,237,244

2,070,629

1,237,248

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 13 October 2025 and were signed by:

T Blackwood - Director

1.	STATUTORY INFORMATION

Magbiehill Properties Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the pound sterling, rounded to the nearest pound.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Whilst the company has substantial net current liabilities at the year end, the majority of that balance relates to sums due to the director. Having considered that fact, expected cash flows and other sources of funding available, the director is confident that that the company can continue to trade and the accounts have therefore been prepared on a going concern basis.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied excluding value added tax. Revenue from the provision of goods is recognised when the risks and rewards of ownership have been transferred to the customer.

Rents received from property letting and self storage are allocated on a straight-line basis over the term of the rental agreement.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

2% on cost

Plant and machinery etc

-

33% on cost and 20% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Provision is made for damaged , obsolete and slow-moving stock where appropriate.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the income statement on a straight line basis over the lease term.

Assets obtained under finance leases or hire purchase contracts are capitalised and depreciated in the same manner as other tangible fixed assets. The related obligations, net of future finance charges, are included in creditors.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments

Debtors and Creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loan and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measure at present value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2024 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2024

1,206,720

1,028,265

2,234,985

Additions

-

337,858

337,858

Disposals

-

(863,336

)

(863,336

)

Reclassification/transfer

328,820

-

328,820

At 31 March 2025

1,535,540

502,787

2,038,327

DEPRECIATION

At 1 April 2024

84,134

708,059

792,193

Charge for year

51,375

93,848

145,223

Eliminated on disposal

-

(585,018

)

(585,018

)

At 31 March 2025

135,509

216,889

352,398

NET BOOK VALUE

At 31 March 2025

1,400,031

285,898

1,685,929

At 31 March 2024

1,122,586

320,206

1,442,792

5.	INVESTMENT PROPERTY

Total

£

COST

At 1 April 2024

7,500,932

Additions

519,970

Disposals

(100,000

)

Reclassification/transfer

(328,820

)

At 31 March 2025

7,592,082

NET BOOK VALUE

At 31 March 2025

7,592,082

At 31 March 2024

7,500,932

The director believes that the cost of investment properties to date is a fair reflection of their market value at the balance sheet date.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

71,061

17,137

Other debtors

505,755

65,553

576,816

82,690

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

61,432

94,513

Hire purchase contracts

42,589

138,051

Trade creditors

243,712

420,116

Taxation and social security

2,446

32,554

Other creditors

7,276,227

7,032,416

7,626,406

7,717,650

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

423,304

483,964

Hire purchase contracts

56,088

46,623

Other creditors

55,103

114,489

534,495

645,076

Amounts falling due in more than five years:

Repayable by instalments

Bank loans

174,975

239,165

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Hire purchase contracts

98,677

184,674

Sums due to the director

6,775,900

6,559,565

6,874,577

6,744,239

Hire purchase contracts are secured over the particular assets.

The sums due to the director are secured by a standard security and floating charge over the company's assets.

10.	OTHER FINANCIAL COMMITMENTS

The company has total future lease commitments of £nil (2024: £1,872)

11.	RELATED PARTY DISCLOSURES

Included in other creditors: amounts falling due within one year, is a balance owed to the Director of £6,775,900 (202 £6,559,565). The balance is interest free and repayable on demand.